ING Groep NV Trims Holdings in Waste Management, Inc. (NYSE:WM)

ING Groep NV cut its stake in Waste Management, Inc. (NYSE:WM) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,574 shares of the business services provider’s stock after selling 2,193 shares during the quarter. ING Groep NV’s holdings in Waste Management were worth $27,761,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Activest Wealth Management boosted its stake in Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. General Partner Inc. bought a new stake in Waste Management during the fourth quarter valued at $29,000. Sugar Maple Asset Management LLC bought a new stake in Waste Management during the fourth quarter valued at $35,000. Finally, Pineridge Advisors LLC bought a new stake in Waste Management during the fourth quarter valued at $35,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.2 %

NYSE WM opened at $229.07 on Friday. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock has a 50-day moving average of $213.14 and a 200-day moving average of $212.81. The firm has a market cap of $91.94 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, March 14th. This is an increase from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is currently 44.12%.

Insider Activity at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $225.89, for a total transaction of $903,560.00. Following the transaction, the senior vice president now owns 18,531 shares in the company, valued at approximately $4,185,967.59. This represents a 17.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the completion of the sale, the chief accounting officer now directly owns 9,066 shares in the company, valued at approximately $1,999,506.30. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,055 shares of company stock worth $3,578,340 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WM shares. Royal Bank of Canada lifted their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Raymond James lifted their price target on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group dropped their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.94.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.